Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Swiss Re Urges Australia to Use Cat Bonds as Disaster Risk Rises
Feb 10 2011 // Global reinsurance giant Swiss Re said Australia’s natural disaster risk was increasing and urged its governments to cover the rising damages bill using insurance instruments like catastrophe bonds as opposed to...
Best Affirms Fairfax, Caribbean Re Subs Ratings
Feb 10 2011 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited, and has assigned indicative ratings of...
RLI Creates New Reinsurance Property Treaty Group
Feb 9 2011 // RLI Corp. has created a new Property Treaty Group within its RLI Re Division to expand its capabilities in the reinsurance marketplace. The new group will offer customized assumed property reinsurance solutions to a select...
SPECIAL REPORT: Extreme Weather Batters Insurance Industry
Feb 9 2011 // In Chester County, South Carolina, off a dirt road in the middle of a field, insurance companies are literally unleashing a storm. To simulate hurricane-like conditions, an industry group has built a wind tunnel big enough...
Willis Makes Changes in its Reinsurance, Wholesale & Placement Units
Feb 9 2011 // Willis Group Holdings has announced a series of leadership appointments in its reinsurance, wholesale and placement divisions. The management changes are “the next phase in the development of Willis Global, a new...
Breckenridge Acquires Interest in Reinsurance Broker REcentis
Feb 4 2011 // Breckenridge IS Inc. has acquired a majority interest in REcentis Intermediaries LLC, a specialty reinsurance broker with offices in Westlake Village, Calif. and Sydney, Australia. REcentis has expertise in energy,...
Munich Re Estimates 2010 Profits at $3.35 Billion
Feb 3 2011 // Munich Re announced that its preliminary estimate of its consolidated results for 2010, “despite substantial losses,” is €2.43 billion [$3.35 billion], compared to €2.56 billion [$3.528 billion] in 2009....
Best Revises Arch Capital and Subs Outlook to Positive; Affirms Ratings
Feb 2 2011 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Bermuda’s Arch...
Lower Collateral for 7 Reinsurers
Jan 24 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
Guy Carpenter Establishes New Facultative Team in Iberia
Jan 20 2011 // Guy Carpenter & Co, the global risk and reinsurance specialist of Marsh & McLennan, announced the formation of a new dedicated facultative team in Iberia. Alejandro Ramirez, Senior Vice President, Artur Castany,...
Barclays Warns Reinsurers at Risk from $6 Billion Australia Flood Insured Losses
Jan 19 2011 // Insured losses from the recent flooding in Australia could top $6 billion, and earnings estimates for Bermudan reinsurers are at risk as a result, Barclays Capital said Tuesday. Barclays analyst Jay Gelb cited early...
Cooper Gay Swett & Crawford Expands Reinsurance in Mexico
Jan 14 2011 // Global wholesale, reinsurance and specialist retail insurance broker Cooper Gay Swett & Crawford has agreed to move to a 100 percent shareholding in its Mexican reinsurance broker, Cooper Gay Martinez del Rio, by...
Sloan Mason Partners with Reinsurers to Expand Marine Coverage in Latin America
Jan 12 2011 // Sloan Mason has expanded into Latin American facultative reinsurance business. The San Diego based broker is placing coverage for ports & terminals, shipyards and a wide range of energy companies into the U.S.,...
Australian Floods to Cost Insurers, Reinsurers $1 Billion
Jan 12 2011 // The devastating floods in Queensland state that forced evacuation in Brisbane, Australia’s third-largest city, are expected to be a near $1 billion event for insurers, though reinsurance is seen covering more than...
Reinsurance Prices Should Remain Soft in 2011: Reports
Jan 11 2011 // Two new reports deepened the gloomy outlook for global reinsurers Monday, with fresh evidence of weak pricing and little hope for a turnaround for the sector in the near future. Reinsurers are mired in a prolonged slump as...
Brokers, Reinsurer to Expand Insurance for Oil Drilling
Jan 10 2011 // The world’s top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling in the wake of BP’s disastrous Gulf of Mexico spill last April. Their...
Canopius Launches Swiss Reinsurance Operation; Seeks Omega Deal
Jan 10 2011 // Canopius Group Limited, a privately owned Lloyd’s re/insurer, has announced its intention to “extend its international footprint with the establishment of a reinsurance underwriting platform, Canopius Europe,...
Jan. Reinsurance Renewals Saw ‘Orderly Rate Softening,’ Says Towers Watson
Jan 10 2011 // Record reinsurer capital levels, strong reinsurer capacity, an absence of major catastrophe losses in the U.S. and competitive pressures helped push down January 1 renewal rates for U.S. property/ casualty reinsurance...
Reinsurance Broker Holborn Adds Frank, Knutzen in Midwest
Jan 10 2011 // Holborn Corp., an independent provider of reinsurance brokerage services headquartered in New York, announced that Thomas Frank and Jon Knutzen have joined the firm as senior vice presidents in the company’s...
Florida Approves Lower Collateral for Renaissance Re
Jan 4 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
